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mulholland in the pits of the cme. we have a street fight. jeff believes there will be a fiscal cliff resolution. david wright, on the other hand, thinks d.c. will avoid the cliff, but it will not stop the bears from coming around this time. let's start with tim at the cme. and, tim, we were talking about what a low yield you get now on treasuries. people are looking for some kind of yield, and the only place you're finding it is in the stock market. >> yeah, that's true. you also get the corporate bond market, the high-yield market. the fed has really through their interest rate repression forced people into risk assets, so the fixed income -- david: let me just stop you there, tim. you say interest rate repression on the part of the fed. that sounds like you're not too happy with the fed. [laughter] >> the fed's basically taken the market disciplinary function out of the marketplace with purchasing $85 billion a month with treasuries. they've been doing that for quite some time, so they basically have been, you know, manipulating the interest rates which i think is also when people
battle against polygamist sect leader warren jeffs. this past week the state attorney general's office announced it will try to seize jeffs' ranch where prosecutors say he and other leaders sexually abused children. joining us for today's faces of faith is a former member of jeffs' fundamentalist church and the woman who discovered that ranch's location. when jeffs initially told no one where it was. her name is flora jess up, the author of "church of lies." flora, good morning to you, and thank you for coming on the show here on this sunday. you escaped the sect when you were just 16 years old. how did you manage to do that? >> you know, back when i got out of the cult, it was very difficult. i was one of the first girls that ever made it out of the group and lived. they have their own police force, so they would have routinely hunted down women and children that tried to escape from them, and it was very, very difficult to get out at that time. >> not only getting out as part of the difficulty, but even making the transition, i would imagine, once you have left the sect into a memori
levels on the mississippi river dropping to record lows. we find jeff flock with more. jeff: and extraordinarily difficult situation here. live pictures from the mississippi. we are on 24 barges and tow. this is the guy who runs this. extraordinary low levels. >> yes. this is the lowest levels we have seen in years. we are approaching record lows we have never seen. jeff: it is not enough to raise the levels, the rain we are seeing right now. >> it is pretty amazing what you can see at these low river stages. it is really amazing how low the water is. jeff: they have had to reduce the amount of cargo that they can ship. it is actually a fertilizer that in this middle part. the outside is actually empty barges to go upriver to bring grain back down. >> correct. jeff: how much of an impact puts back this is fertilizer for spring planting. >> salt for the roads we drive on to keep us safe. jeff: this is almost on navigable. >> if we don't get anything done, we will be off this river. jeff: they are asking the obama administration to blow up some rock formations that are now blo
petallides watching traders' reaction from the floor of the nyse, jeff flock watching action on the trading pits of the cme and we have you covered with all-star fed panel. first we begin with nicole petallides on the floor of the nyse with stocks at the top of the hour. the fed now up 6. nicole: we are up six points, we are for six day is a row for the dow jones industrial. some would say people were waiting on the fed, talk about more easing and more stimulus and traders, they were asking about extending the programs, we will see about that. as far as major market averages the dow is just above the unchanged line like the s&p 500 and the ticket in nasdaq pulling back and you see the markets are very tepid and hovering right near zero and waiting for each headline. dennis: thank you, critics are calling it q e forever. the expected in moments to announce a new stimulus. cheryl: a current bond buying program, operation twist is scheduled to end. let's bring in our all-star panel. let's start with gerald 0 driscoll who is with the cato institute. you say we need to end the bond buying progra
-year-old cape cod. >> reporter: jeff davis road out >> reporter: pretty lucky for a 45, 50-year-old cape cod. >> reporter: jeff davis road out sandy in his home on new jersey's long beach island. your house is in pretty good shape. you fared well. >> we were lucky, we were lucky. >> reporter: his house was saved by this wall of sand, part of a $16.8 million army corps of engineers project completed six months before sandy. >> they basically brought the waves to a stand still at this point. >> reporter: stew farrell is a coastal geologist who's examining how sand barriers stop rising water pushed ashore by the storm. >> in places where the projects had not been constructed, the damage was extensive and in some cases catastrophic. >> reporter: since 1986, the federal government helped new jersey pay $700 million to build sand walls as high as 22 feet. but some critics, including steve ellis of taxpayers for common sense, call it a beach bailout. >> what we need do is actually reorient the funding so that the majority of the cost is picked up by the localities rather than the feder
. >> jeff? >> well, the reporters were not trained to work with people who have been through trauma and yes, we want the kids to talk about it as quickly as possible which is part of the debriefing, that trained police officers and mental health experts are doing but you can actually retraumatize the child if you are not asking the proper questions, so perhaps we need to pull back on that a little bit. >> it is interesting because the debate that emerged around us for us is on the one hand as you say, what feels wrong or what we may know is potentially re-traumatizing, but on the other hand not wanting to sanitize something this horrible, because in part, because this is, this is disgustingly horrible and if we make it just sort of the tears of adults then we miss what has happen happened here. >> i think that we have counter vailing values here. so that the press has a duty to get in there and try to figure out what happened. the police have a duty, and that doesn't always mean releasing everything that you heard in the press conference, melissa, and the families going through the mass mur
and the stocks you own. jeff flock on the next scene live. ♪ david: time for a speed read of the day's other headlines, five stories in a minute. buffet's claiming up to $1 billion from reinsure over a life insurance deal reached two years ago, reid says the claim is without merit. union management negotiators agreed of federal mitigation to end the week long port strike in los angeles and long beach. they are striking at ten of the 14 terminals at the nation's busiest port complex. apple nearly doubling itunes gee geographical reach with plans to expand into 56 additional companies as apple faces stiff competition from microsoft and google. warren likely to join the banking committee next year, a well-known critic of the banks calling for regulation and limited risk. carl icon abandoning the bid for oshkosh corporation after just 2 # 2% of the company shares were tended. he sought 25% of the shares in the offer, and that's today's speed read. all right. liz: doesn't usually back out of things. david: he doesn't, but he did. low water levels, threatening to bring the busiest waterway in the
about that on talking numbers. it's carter worth and jeff tomasulo. gentlemen, good to see you and hear you i hope as well. carter, what do you think? you still with b of a? do you like hp as a darling for next year? what do you think? >> no. stick with b of a. if these are stable companies and if you can get one at its business trough low, you profit off its low. but that's only in effect if a business isn't being made obsolete. that's the issue with something like a hewlett-packard. it's not just catching a cord and twine company at its low which then becomes the new winner the following year. or the financial in the case of b of a last year. we would not step in and apply the dog of the dow theory here and apply it. >> but jeff, you don't like b of a do you? >> no. and i'm going to agree with carter. stay away from hpq. b of a is up 108%. now, the smart money is going to rotate out of bank of america and look to go into the stronger fundamental stocks in that sector like a jpmorgan. right now bank of america is trading at 12 times, jpmorgan at 8 times future earnings. wait. jpmorgan
it is cheap. >> let's go to jeff in new jersey. >> jim, mark west energy is nearly down 5% this week. should i add and worry about their chronic secondary offer? >> i like we and then it sprung up and this is no kmp. let's go to josh in massachusetts. i'm going to give you stop confusing me. happy hanukkah. and merry christmas to you. >> thank you. >> my company is jeers logic. i love them and i know they are in bed with apple. and how do you feel? >> it has had such a big move. if i want to own an apple play, i'm going to stick with apple. let's go to mark in wisconsin. >> jim, thank you for taking my call. your thoughts on parker drilling. >> no no no no no we don't need parker drilling. let it come up and ka ching. i like to go with slob. how about jeff in illinois? >> happy holidays jim. thank you for taking my call. i have been wlhistling to the g agriculture sector. >> those are both good companies. right now i prefer montana a little bit. but those are biotech companies that are seed companies. i'm not done. i'm going to phillip in arizona. >> hi jim, what do you think of alcoa at this
on that and a check with the markets, jeff cutmore is live from london. good morning you to. >> good morning. you know, uncle ben has gone back into his toolbox and he's pulled out one thing we were expecting which was a continuation of the bond buyback program. so that was pretty much baked into the story. but the thing we weren't expecting, perhaps, was this change in policy and this tying of zero interest rates to the unemployment rate. he now saying it remains at near zero until we get the jobs rate down below 6.5%. we're currently sitting at 7.7%. so there is a little room to go yet. we have near zero interest rates to come. unsurprisingly, markets like it but not quite as much as you might have expected given that they knew part of the deal was already due to come down the pike. >> apple and the headlines, what do we know about them trying to dive head first into the tv market? >> yeah. it's a fascinating story, isn't it? apple share price has gone from the dizzy heights of over $700 and we're now in $500 and change territory. part of the reason think the momentum is slowing for apple. what come
may be at least a decade behind in gdeveloping their own supplies. >>> my krchlcnbc colleague jeff cutmore live overseas. this is good news at least in the short term, right? >> absolutely, brian. and a very good morning to you. good to see you anchoring the program this morning. the u.s. has such a strong lead in this area. it's hard to see how companies trying to find this shale gas elsewhere around the world are going to have the same kind of success. we've seen millions of wells drilled in the united states. we're just seeing in countries like poland pioneering one or two initial wells being drilled by companies like chevron. so the potential is out there. it's just going to take a whole lot longer to get it out of the ground and to the consumer. and a couple of real issues here. one is yes, we're way behind in terms of the program. i mean, countries like china may have the same reserves of gas as the u.s. has. but it's just going to take a whole lot longer getting to them. and the second one is a lot of these countries don't have the same distribution infrastructure in place u
, will take on the same sex marriage issue. this was just announced. straight to jeff toobin with us here. we have been waiting for this development. this is a big deal. >> this is a major event in american history. not just in supreme court history. the supreme court is not just going to decide whether the defense of marriage act is constitutional, they are also going to decide whether proposition 8 in california, that case, whether the ban on same sex marriage there is unconstitutional. and that could affect all 50 states. so there is at least the potential that by the end of june, all 50 states will be ordered to have same sex marriage. there is a long way between here and there, but that is now a possibility. >> what is so interesting about this, this is not just about the marriage issue, so much as it is an equal protection issue because so many people have been denied benefits under federal law. >> that's the defense of marriage act case. what the defense of marriage act case, what the law says, passed in 1996, signed into law by president clinton, that law says that the federal governm
of counseling and then license only one viewpoint on that same subject matter. >> jeff, what about that? is this a first amendment issue? >> this is actually a hard case, i think, because it is true that physicians or anyone else can express any kind of opinion they want about homosexuality but it's also true that the state of california can regulate the practice of medicine, including telling doctors and any kind of care providers you can't mislead, give advice that will hurt patients. they can't prescribe laetrile to cure cancer because that doesn't work. what the state of california tried to do here is say that this kind of therapy is harmful, especially to children, and we as the state can stop it. that i think is close to legal, but it is also true that physicians and therapists do have certain rights to express their opinion about what works and what doesn't, and the judge tried to navigate between the two of those. >> but is this ruling, jeff, by the judge, the law, does it stop a therapist from speaking out against -- i mean, if they want to go on television and say being gay is
was not removed proper plea because of the manner in which she left the hospital. i'm joined by jeff gold a former prosecutor, and deborah lum. jeff, what do we need to know about this legally? >> why did they do it and why are they talking to the police. the mom talked to hispanic radio. the dad gave a talk on a radio show. why aren't they talking to the police and quelling the fears that the child is okay. the dad said i'm speaking to my wife and daughter now, they are fine when he spoke to the today show. why not let the police speak to the mother and find out if the daughter is okay. they skipped out the day before they were supposed to be released. the child was supposed to be released. why was that? let's find some answers now the. martha: deborah, one of the big issues here obviously is parent alrights, this is your child. they voluntarily brought her to be treated at this medical facility. but you also have the issue of the prior infection and whether or not the parents are serving this girl or whether they in anyway are endangering here. >> just quickly to speak to what jeff just spoke ab
director for the national,or for the reform of marijuana laws. oregon senator jeff merkley, heidi ewing, and rachel grady will be joining us. steve satich, ohio congressman, steve latourette, and ambassador nick burns are our guests this morning. it's thursday, december 6th, and "starting point" begins right now. >>> welcome, everybody. our starting point this morning, some major developments to tell you about in egypt, after angry protests against political moves by the president, mohamed morsi, have turned deadly. tanks, armored personnel vehicles, all stationed outside the presidential analysis cairo. not only are they guarding the palace, they're also keeping apart supporters and opponents of morsi. hundreds of his islamist supporters already taking to the streets in cairo this morning. opponents are gathering not very far away. last night the two sides clashed right outside the palace. the violence killed at least five people. hundreds of other people were injured. opponents are demanding that morsi dial back on those sweeping powers that he has granted himself. cnn's reza sayah is
today allowing workers to get the right to join unions. jeff flock is in lansing michigan covering the story for us. i thought it was interesting how you covered the scene there with michigan a few years back, excuse me, wisconsin. >> wisconsin, exactly. not the same kind of intensity. part of that is because this is already pretty much a done deal. there they had not a teacher headed off. the second one being debated right now. but renew over here to the scene of the george romney state office building. george romney, former governor of wisconsin, and father of mitt romney. the large group of protesters are trying to get into the crowd and see. they have essentially ringed the entrance of the building trying to make their voices heard. they feel very frustrated. they feel this had passed in a lame duck session without the opportunity for there to be more debate about it. that is their feeling. at this point you mentioned a little bit of white you could call it violence. nothing serious at this point, but we want to keep an eye on this because there are lots of folks, pretty hard t
after that short break. on deck, senator jeff sessions is with me, a ranking member of the senate budget committee. richard shelby is also with me. and maya mcguinness. this busy edition "the closing bell" is just getting started. we're back in a minute. they've been committed to putting clients first. helping generations through tough times. good times. never taking a bailout. there when you need them. helping millions of americans over the centuries. the strength of a global financial leader. the heart of a one-to-one relationship. together for your future. ♪ well, having a ton of locations doesn't hurt. and a santa to boot! [ chuckles ] right, baby. oh, sir. that is a customer. oh...sorry about that. [ male announcer ] break from the holiday stress. fedex office. >>> welcome back. you just heard from timothy geithner. did the exclusive interview you just saw move the needle in terms of the fiscal cliff being any closer to a deal? chief washington correspondent john harwood watching this event closely. john. >> reporter: i think what we saw in that interview that steve had was furthe
or their elected representatives to stake with traditional marriage. >> reporter: for paul and jeff, the supreme court decision is personal. they launched the challenge to prop 8 seeking the right to marry. >> sometimes the court system needs to nudge us forward to be a better, more united america. >> reporter: the court could rule in a way that impacts same- sex marriage only in california and does not affect the rest of the country. >> movements are a mix of things and you have to kind of take the ups with the downs. >> reporter: the court will hear the marriage cases in march. a decision will probably come by the end of june. john blackstone, cbs news, san francisco. >> pelley: john, thank you. the court also said today it will hear a second case on same- sex marriage. that case is a challenge to the current law that denies married same-sex couples the same federal benefits as other married couples. we checked with the census bureau today and they told us there are just over 600,000 same-sex couple households in olerica today. most states-- 38-- ban same-sex marriages. nine states and the dis
>> that's jeff singing "hallelujah." alan light, the book explores the unlikely journey from obscurity to modern day hymn. it's great to have you on the sh show. >> thanks for having me. >> first of all, tell us how that happened. >> it happened over a long period of time. leonard cohen first reported "hallelujah" in 1984. his label turned down the album it was on. it came out to no notice at all. and over the course of 10, 15, 20 years, more people discovered this song. jeff buckley recorded it in 1994. after jeff buckley's death it got more notice and then people started to pick up on the magic of this song, put it in soundtracks, on tv shows. more and more people recorded it. >> it's everywhere. >> wainwright is nothing short of extraordinary. >> it was on the soundtrack to "shrek" one of the key moments in getting this out there. there are now 350-some recordings of this song and thousands more performances by bob dylan and u2 and, you know, everybody all around the world knows this song. >> but it almost didn't happen. it languished in obscurity. >> first when leonard was writing
of the top names in music. as jeff glor reports, the cause hits home for many of them. >> i've never seen anything remotely close to what hurricane sandy was. >> reporter: sandy was a worth-case scenario storm. millions lost power, thousands lost homes, and over 130 people lost their lives. new jersey new york and connecticut were the hardest hit. they're also home to some of the biggest names in music. >> i was here during the storm. it was scary. >> to witness my city and the tri-state area really going through something where nobody could control it. >> this was just complete and entire buildings washed away into the sea. >> reporter: 121212, the concert for sandy relief at madison square garden is being called one of the biggest music events of all time. >> we called bruce springsteen and paul mccartney and they said yes immediately. >> reporter: the last time producers managed to bring this many big names together, it was after 9/11. ♪ i've seen the lights go out on broadway ♪ >> reporter: 121212 has already raise third degree $2 million in sponsorship b
are we hearing? as republican senator jeff sessions says -- >> a lot of flimflam. >> flimflam. we told you last night that treasure secretary tim geithner hop-scotched his way down pennsylvania avenue to bring the president's proposal from the white house to capitol hill and instead of offering compromise, he leapt to the extreme. in case you forgot, here's what his plan does. his plan taxes $1.6 trillion of taxes. higher tax rates on people, families making more than $250,000 as well as closing loopholes, limiting deductions, raising the estate tax rate and increasing the taxes on capital gains and dividends. and the plan spends nearly $200 billion. another stimulus package of 50 billion. an extension of unemployment insurance benefits estimated around $30 billion and an extension of the payroll tax cut estimated at about $114 billion. but the geithner plan didn't cut spending. in return for all of that, the president offered $400 billion in cuts to medicare and other entitlement programs. today john boehner basically said, go fish. >> was not a serious proposal. and so, right now, we
the story was public . 5.4 million people have died. jeff, why is it that the crisis seems to be heating up? you point out that the congo that the government's army is losing battle after battle. >> i think this is really an issue of state failure. i've been covering congo for six years and i've seen the country get weaker and weaker since i began. there was a big election in 2006 that created a lot of hope and enthusiasm that things were turning around. they haven't. the government has become more corrupt. there's been more rebel groups and what we're seeing in the east is a symptom. it's a symptom and a cause. it's a symptom of this weak state that can't control its own territory. it watch these couple hundred rebels march into the biggest city in the country and they didn't do much about it. that's also a cause. now that the rebels have taken goma, a lot of other opposition groups are thinking now is the time to take on the government. people are smelling blood in the water. that's the water that these rebels in eastern congo do not have the capacity or support to march all the way to ki
, go to axiron.com. >>> let's bring back our panel. jeff, that tribute video hillary clinton and i know we're going to get hilary 2016 stories. they with will churn out as soon as the president names whoever he names to replace her. she seemed almost energized by it. >> how could she not. this is the celebration of her long life. not an easy one her public life. she's ending at a high point here. 2013 is going to be filled for, at least people in our business a lot of chatter about what she's going to do or not going to do. i believe she doesn't know. let her take a break. >> that i buy. yes people around her will put together the operation. >> just watching that it reminds you with john mccain on tape like that, it is really -- she would be a powerful force. >> it's a reminder that we might get clinton-bush the sequel. at the end of the day, right? who else do the republicans have? who would make a better transitional leader from 20th century. the guy who is married to a mexican-american. >> i'm an enormous fan of jeb bush. i think he would be fantastic. his son george p. is exploring
clear that founder jeff bezos and his notoriously secretive company had bigger plans. they started expanding in the late 1990s into videos, music, games, electronics, kitchenware, clothing, shoes, jewelry, business services, information storage. amazon turned the corner to profitability in 2002, and today, amazon is a $100 billion global company. and though bezos declined our request for an interview, he recently told "fortune" magazine's andy serwer -- >> our goal is to be the most customer obsessed company. is there someone doing some element better than we? if so, how do we improve? >> online shopping is still only 10% of total retail. >> reporter: meaning amazon in all likelihood is just getting started. ben stein told me recently he has never seen a company dominate a market quite the way amazon is right now. this is a huge, huge story this holiday season. the big question, of course, is, what's going to happen to all the jobs that go in the traditional brick and mortar stores? we don't really know. will they go away? will there be more of them? find out more of those answers
doesn't mean what i really think. >> that would be easier to believe, jeff, if you didn't show up here tonight. >> then they were arrested by police waiting outside. >> trust me, it will never happen again. >> if there is nothing else you have to say then you are free he to walk out that door. >> he walks outside and is arrested by that camouflaged officer. >> police, stay down. >> the show was a ratings dream until tragedy struck. >> it was a texas prosecutor. he was allegedly chatting online with somebody that he believed to be a 12-year-old. that, in fact, it was this plant, sort of from this organization called perverted justice. >> in november of 2006, a former north texas district attorney, 56-year-old lewis conrad, shot himself when cops confronted him after the sting. which brings us to radio. the home of more pranksters than any other media. in this prank heard around the world. >> yes >> it came across the most closely watched pregnancy of the 21st century. >> the nurse was a i have. prank call pregnant duchess has been found dead. >> she was found near the hospital this morn
. jeff, first to you, once the supreme court makes that final decision in the spring, maybe by june at the end of the term, we will know whether or not same sex marriage will be legal, not only in those states like new york state or maryland or iowa where it is legal, but throughout the united states. >> it is a possibility, there are limited possibilities. the court specifically took nose in this case, whether the question of whether the people defending the law in california even have the right to be in court. do they have standing. they could simply rule that the people defending the law don't have standing. that wouldn't even deal with the issue of the constitutionality of same sex marriage. that would be a procedural ruling that would allow the court to duck the issue of is there a constitutional right for gay people to get married. so it's a possility that all 50 states could be ordered to have same sex marriage, but it's also a possibility that the court could duck that issue all together. >> obviously we have to wait to see what the nine justices decide. gloria, you've done
. >> let's get reaction. s & p capital, jeff cox at cnbc headquarters and rick santelli in chicago. sam, where do you stand on all this? what's your take in terms of republicans coming out with their plan, post the president's plan released this weekend as well? both plans where we left off with the last bargaining going on? >> i think, once again, what we're finding is that congress can teach shakespeare something about drama. i think they'll wait it out until the 11th hour and even allow us to fall off the cliff. it's easier to look like a white knight if they're reactive rather than proceed active. >> last week when the markets were volatile, now they are taking it in stride. we're coming back a little bit but not the volatility from last week. a little complacency or are we getting used to the drama out of washington? >> i think we're getting used to it? i think it's worth noting that on the 16th when we started to get this good news trickling out, the 19th when we got this big rally, the market stopped trading as correlated as it was prior to that. from the election until the 16th,
you, with a picture of jeff bridges from "the big lewbowski." >> weed busts really put a tax on law enforcement. you have to pull somebody over, if you find a bong or something else, there's an arrest, probably a misdemeanor. there really is a draining of police resources but i'll tell you where the money is being made. it's being made in the court system on the fiennes. so there is no grand rush to legitimize or legalize marijuana frankly because the penal system is profiting from it. i'll tell you what else is happening. some kids are being convicted of misdemeanors, low level felonies, and it's ruining their lives. they're not able to get jobs or federal student aid for school and those kind of things. i'm the biggest truther there is on some of this stuff, but if you're smoking it in your house, i just think it's your business. >> what does the federal government do? >> the federal government considered pot the same as lsd and heroin. >> same classification of drug. >> heroin. i didn't even know heroin still existed. apparently it still does. and pot does, too. the difference is
in school. the leader is warren jeffs, they ran away when gary showed up with the camera. what's worse, the kids aren't being paid, but someone was and we'll also talk to the photographer who took the now infamous photographs of the man killed in new york and what he saw through his lens and what other people did and did not do on that subway flat form. all at the top of the hour. >>> now, our fifth story "outfront." new jersey's republican governor, chris christie, was at the white house on capitol hill today asking for more funding for his storm ravaged state. as republicans in washington continue to slam the president for additional spending is well, perhaps problematic. chuck schumer whose own home state of new york was hit hard by sandy, pointed out the irony of the request. it doesn't come at an oper tune time. will christie's move hurt his party or not? good to see both of you. let me ask you because i don't know you spoke early on about how well you thought you thought chris christie handled this storm, politically and every other way and now asking for federal funding and repu
over the american educational system, never, absolutely not. >> all right. jeff toobin, thanks. >> let us know what you think. we're on twitter right now. @andersoncooper. >> are republicans and democrats looking for a way of climbing down from the fiscal cliff. there are signs of give, perhaps, on either side, but can either side go far enough without losing the support of their core supporters? [ female announcer ] what if the next big thing, isn't a thing at all? it's lots of things. all waking up. connecting to the global phenomenon we call the internet of everything. ♪ it's going to be amazing. and exciting. and maybe, most remarkably, not that far away. we're going to wake the world up. and watch, with eyes wide, as it gets to work. cisco. tomorrow starts here. [ sniffs ] i took dayquil but my nose is still runny. [ male announcer ] truth is, dayquil doesn't treat that. really? [ male announcer ] alka-seltzer plus fights your worst cold symptoms, plus it relieves your runny nose. [ breathes deeply ] awesome. [ male announcer ] yes, it is. that's the cold truth! we believe the m
to do it and whether to do it at all. joining me now democratic senator from oregon, jeff murphy. senator, great to have you on the program. >> thank you, alex. it's great to be with you. >> so we just played some vintage al d'amato footage of one of his many filibusters. when we talk about filibuster reform, one of the things that is suggested in terms of reform is bringing back the talking filibuster, but i guess i ask you as someone who is leading the charge on this, is that going to actually help things in the senate, or does this give senators more opportunities to grandstand in front of cameras? >> listen, they can grandstand all they want right now, so that's already a privilege they have. unfortunately, what the minority has decided to do is to utilize the filibuster, which actually is just an objection to going to a final vote, so it's a quiet objection. it's not on the floor. no speeches are required. never have been required. it used to be people wanted to take responsibility for their obstruction because they understood that a majority -- a simple majority vote is a k
enough to do this. only jeff lacker from richmond fed gave incentive this time around. there is a bit of confusion as i head this statement. there's two different things going on. one is asset purchases. other is funds rate target. there are two different litness tests for now long they go on. federal reserve says it'll keep going if the labor market doesn't show signs of improvement. we have to ask bernanke how well this works together adds a whole, to really explain what is going on here. >> what is the implication steve, of that economic trigger on the fed's funds rate. for investors holding fixed income assets. as you move down towards the 6.5% magic point. what happens in the markets? >> well, i mean, you a sense e sensitively, the market will anticipate either an ending of of the program as we near it or even potential asset sales if we do get a rise in inflation towards 2.5%. i would like to point out, tyler, that 6.5% average number is exactly the number that was given to us by our -- in our cnbc survey yesterday. they hadn't talked about it at 7% but 48 respondent's came in
will jump in. the other thing we don't have in equity, we have two superstars, bill gross, jeff gunlock, knocking the cover off the ball. people like to buy the personality. no peter lynch in stocks anymore. >> what about the fiscal cliff? we just talked about it with john boehner. does that help or hurt? >> home run for exchange trade for two reasons. whatever happens on the fiscal cliff, whatever they get their act together to do, two things will happen. tax rates will go up on capital gains and dividend. etfs or more tax efficient, more people will follow into that place. i also think some people trapped in mutual funds because they have low tax basis will do tax gains harvesting, realize their gains, pay 15% and move that money finally into cheaper, more tax efficient and better profits etf has to offer. >> trader talk column, trader talk cnbc.com in a few moments. that's what's hot, etfs. back to you. >> we look forward to that very much. thanks, guys. gold market selling off a little bit. at the close, sharon epperson tracking the action at the nymex. moving into stocks and out of
tomorrow. gas prices fell again to an average of $3.35 a gallon. i'm jeff glor. cbs news. this family used capital one venture miles to come home for the holidays. that's double miles you can actually use... sadly, their brother's white christmas just got "blacked out." [ brother ] but it's the family party! really jingles your bells, doesn't it? my gift to you! the capital one venture card! for any flight, any time! that's double miles you can actually use! how illuminating. what's in your wallet? let me guess, am i on the naughty list again? ho ho ho! excuse me, maestro?, am i on the naughty list again? bring it down, please? better. that's what happens to background noise, when you're making a call on this. this microphone here, picks up the sounds around you and helps turn them down. so when the world gets noisy calls sound better. but we can still help you see your big picture. with the fidelity guided portfolio summary, you choose which accounts to track and use fidelity's analytics to spot trends, gain insights, and figure out what you want to do next. all in one place. i'm meredith
does it make it seem like con are gres gress is irrelevant. jeff sessions has repeatedly made the point and i want to play something for you that he said yesterday. >> we all know what the plan is, what the scheme is, the strategy is. it is to be meeting in secret and then plop down on the floor of the senate at the last hour, some sort of coerced agreement that all of the senators like lemmings are supposed to vote for. >> is that what is going on here? some coerced agreement that you're going to have to vote for? >> i wouldn't describe it as a coerced agreement. but you can't have 500 people in the room negotiating an agreement. so, yes, we have our leadership, they sit down with the president, they hammer out a deal, they come back to us. our opportunity for input in this process is with our leadership. we have caucuses multiple times each week. we express to our leaders, this is what we want to see. this is what we will support. we do not want to see action on this or be pressed on this. don't come back to us with a proposal on this. that's the way that we can influence the ultimate
. gin me as former fbi agent jeff lanza, we want to point out he is no relation to adam lanza. security was tight at this school in connecticut. but the gunman was able to get in any way. apparently shooting his way in. is there any way to stop that? >> no place is 100% safe. schools have been in lockdown mode since columbine in terms of the locks and doors they have, buzz-in procedures. that's very important and probably resulted in a lot of people not getting hurt but the problem is, they are never 100% safe. use a gun to break open windows, break open windows other ways, get your hand in and open the door. that's what happened here. no place is 100% secure. >> what about the guns? handguns were found in the school. a rifle in his car. can stronger restrictions on guns prevent these shootings? this opens up the whole gun control debate. where do you stand on that? >> you know, i think -- uncan't make the deaths of these children and the adults to have -- to have less meaning or no meaning at all. it needs to be a legacy and the legacy is congress and the highest levels of government,
treat it like a piggybank. megyn: remember the whole jeff neely picture in the hot tub -- >> very creepy, scary. megyn: conference, and -- there he is. [laughter] >> what's scarier, the zombie or him? megyn: i don't know. they had the contest where the people were rubbing money all over themselves, they were like, yeah, we gotta spend it. and that was our money. >> don't forget the clown show. >> you know what? and then it gets even worse at the state and local level where these guys go to atlantic city -- megyn: you are supposed to be making us feel better, you are supposed to be defending the administration. >> well, actually a pox on everybody. it's not an administration thing, the democrats do it, the republicans do it -- megyn: it's an american thing. spend on frivolous things. >> i know, and i hate to be a buzzkill, because i know i'm supposed to make you feel better -- >> no talk of cutting back spending. all about how much we're going to raise taxes so we can have more fun, so we can have more fun like this. break out the zombies. megyn: 40, 40, -- ho, ho, ho! i'm reading rudolph
this program. here is what senator jeff sessions told me. >> it's a guaranteed thing. it's an entitlement program. that means if you meet the income qualifications, the government must give you the money. whether the government has any money to give you or not. if they don't they have to borrow it. that's what we're doing. >> reporter: by the way the food stamp program is exempt from sequestration. even if we go over the fiscal cliff those benefits will still be paid out even if lawmakers don't reach a deal. senator sessions did try to pass something in the senate that would have put food stamps on the table for the fiscal cliff negotiations and failed in the senate. jenna: let me ask you that is it part of the fiscal cliff negotiations or are food stamps in their own column right now? >> reporter: he tried. it is considered an entitlement program so it has to be funded. he did try to get the specific measure passed in the senate and it failed. jenna: any response from the administration on this? >> reporter: we reached out to the white house on this and want to give them opportunity to e
base is. the tea party isn't one entity, it is a label given to a movement. stuart: jeff, come join us again as this thing plays out as it will. thank you. >> thank you. stuart: you certainly have fiscal cliff fatigue, got it. so next, my take on foreigners. >> you know, if you're a businessman, how do you decide what you are going to do with your business this year because you don't know how much you are going to be paying taxes. if you are a consumer, how do you decide what you are going to be spending your money on in the up coming year? the level of uncertainty i think is unprecedented. stuart: well said, kelly jane, she was in our last hour, what you can expect in the new year if congress doesn't reach some kind of fiscal deal by midnight. we just reported that even the irs is waiting to hear what to tell employers to withhold from our paychecks. we still don't know, what is it, about 14 hours, 13 hours left to go. that's it. all right, everybody, time for a market check. where are we right now? dead flat still with a hint of what might happen on the fiscal cliff negotiations. thi
the first person, was the receptionist, she was great. and jeff brown, he took me through it. it wasn't a hard sales pitch. in fact, we couldn't even do anything for two weeks. so in that time we started with the orientation and training and every time we did, took a step closer and it was good. >> steve: it's been great for you so far. i know you've been a stay at home mom. you were looking for something. now your brother could actually work for you if he chooses. david, this is the kind of story you're looking for. >> exactly right. we have 30 master territories in operation presentsly with approximately 2200 unit franchisees such as yvonne and look for additional veterans to come in at a higher level to purchase these master territories. hence our discounted program. >> steve: got you. this is a company that specializes in janitorial services, right? >> yes. all business to business. >> steve: all right. so you've already got two businesses who have said, you needs? we want your business to clean our business. >> that's right. i'm cleaning up. >> steve: you are cleaning up. it's tu
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